The Pareto Principle (80/20 rule) was named after Vilfredo Pareto. He observed that 80% of income in Italy went to 20% of the population. Business management thinker J. Juran suggested the principle and named it after the Italian economist.
The Ontario Ministry of Transportation is the leading government proponent for Value Engineering in Canada. The expanding use of and advocacy for Value Engineering by the Ontario Ministry of Transportation has occurred because Value Engineering meets 3 key needs:
1. Maximizes use of resources
2. Establishes common understand of business needs
3. Delivers Innovation
This paper will highlight how the Ontario Ministry of Transportation uses value management to achieve innovation in infrastructure projects, improve the effectiveness and efficiency of business processes, define the requirements of IT systems, generate organizational change, and develop innovative standards.
The presentation provides Lean practitioners information on Value Analysis and Function Analysis as a method to generate ideas in a Lean environment.
The Ontario Ministry of Transportation is the leading government proponent for Value Engineering in Canada. The expanding use of and advocacy for Value Engineering by the Ontario Ministry of Transportation has occurred because Value Engineering meets 3 key needs:
1. Maximizes use of resources
2. Establishes common understand of business needs
3. Delivers Innovation
This paper will highlight how the Ontario Ministry of Transportation uses value management to achieve innovation in infrastructure projects, improve the effectiveness and efficiency of business processes, define the requirements of IT systems, generate organizational change, and develop innovative standards.
The presentation provides Lean practitioners information on Value Analysis and Function Analysis as a method to generate ideas in a Lean environment.